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To: Steve Felix who wrote (552)11/22/1999 4:21:00 AM
From: Lee Lichterman III  Read Replies (1) | Respond to of 594
 
>>Suddenly Waterlouse decides that buy stops must be placed $1 above the bid. <<

That is probably because their trader is a sleep most of the time in the pit. I have watched my limit orders sit at either the bid or ask for hours, then watched the bid ask pass me right buy without an execution MANY MANY times. I then have to phone my broker and push the issue until they finally fill me out of their stock.

I also have not had a better than expected fill in over 8 months. I used to get better than expected executions with DLJ all the time. It seems they are no longer happy taking the normal spread but want to take a bit extra to boot. I have an order in with them right now but I am looking to move elsewhere soon. I plan on starting my new millenium minus a Waterhouse account.

Good Luck,

Lee